# Forex Major Currencies Outlook (Aug 29, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-29-2016/ Language: en Updated: 2016-08-29 Description: Explore Forex Major Currencies Outlook (Aug 29, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar enjoyed a strong boost on Friday when Fed Chairperson Yellen made her speech and confirmed that a rate hike could still be in play before the end of the year. These remarks were echoed by Fed official Fischer, reminding market participants that a number of FOMC policymakers support the case for tightening soon. The core PCE price index, along with personal spending and income reports, are up for release today. **EUR** The euro suffered a sharp selloff to the dollar but managed to advance against its other rivals. Germany’s GfK consumer climate reading came in line with expectations at 10.2, up from the earlier 10.0 reading. There are no reports due from the euro zone today. **GBP** The pound managed to put up a strong fight against its peers but gave up some ground to the dollar after Yellen’s speech. The preliminary UK GDP reading was unchanged at 0.6% while preliminary business investment showed a strong 0.5% rebound instead of the estimated 0.9% drop. UK banks are closed for the holiday today. **CHF** The franc slid against the dollar and its European counterparts as there were no reports to prop it up last Friday. There are still no major reports lined up from Switzerland today so the franc could take its cue from risk sentiment or simply consolidate. **JPY** The yen was in a weak spot after traders moved their safe-haven holdings to the dollar in anticipation of a rate hike before the end of the year. Also, traders are still reeling from BOJ Governor Kuroda’s hints about further easing earlier in the week, on top of weaker CPI readings from Japan. Japanese household spending and retail sales figures are due in the next Asian session. **Commodity Currencies (AUD, NZD, CAD)** The comdolls chalked up big losses to the dollar on risk-off flows. There were no reports out of their economies then but traders couldn’t help but price in the impact of higher US rates on business investment, consumer spending, and demand for raw materials. There are still no major reports lined up today so the comdolls could move on risk sentiment. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-29-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-29-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-aug-29-2016/", "headline": "Forex Major Currencies Outlook (Aug 29, 2016)", "inLanguage": "en", "datePublished": "2016-08-29T08:13:01+00:00", "dateModified": "2016-08-29T08:13:01+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Aug 29, 2016). USDThe US. 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